
Due to the continuous increase in the prices of petrol and diesel, the government is under great pressure to cut their prices. To get relief from their increased prices, there is a demand to bring them under the purview of GST. Recently, the Prime Minister and then the Chief Economic Advisor Krishnamurthy Subramaniam also advised to bring it under the purview of GST. Before this, Petroleum Minister Dharmendra Pradhan has also suggested this. However, Finance Minister Nirmala Sitharaman has described it as religious. Now SBI economist Soumikanti Ghosh has said that after being brought under the ambit of GST, the price of petrol and diesel can come to Rs. 68.
Petrol and diesel fall in GST, 0.4% loss to GDP
Saumyakanti Ghosh has said in his assessment that petrol and diesel and the state governments will only incur a revenue loss of one lakh crore rupees which will be 0.4 percent of GDP. This assessment has been done based on the price of crude oil in the international market at $ 60 per barrel and a dollar-rupee exchange rate of 73 rupees per dollar. Both the central and state governments impose their tax on petrol and diesel. States apply VAT on petrol and diesel as per their requirement. The center imposes excise duty. With this, the center's cess is put on it. In some parts of the country, the price of petrol has reached 100 rupees a liter.
Saudi Arabia turned down India's request
Meanwhile, OPEC has ignored India's plea to lift applicable controls on crude oil production. At the same time, there has been an increase in the price of crude oil in the international market. Saudi Arabia has told India that it can use the crude oil it bought at the time when the price of crude oil went down significantly last year. Brent crude oil, which is the most used crude oil, rose nearly one percent to $ 67.44 a barrel on Friday.
Petroleum Minister Dharmendra Pradhan appealed to OPEC countries to reduce the restrictions imposed on production to bring stability in the price of crude oil. He believed that due to the rising crude oil prices in the international market, both the improvement in the economic sector and the demand are having a bad effect.
Joe Biden, concerned for Xinjiang-Tibet-Hong Kong; So China again threatened Taiwan
US President Joe Biden has expressed concern for Xinjiang, Tibet, Hong Kong. Biden and President
The shamelessness of Pakistan! Evidence is also being sought against Lashkar and Hafiz Saeed
Pakistan has rejected criticism by India over its failure to prosecute and punish Lashkar-e-Taiba
After the murder of Tunisha Sharma, many twists and turns have come to the fore in this case. Rec
PM Modi Japan Visit: Prime Minister Narendra Modi addressed the diaspora in Japan's capital Tokyo
Because of the increasing cases of monkeypox in the country, the central government has issued ne
The film 'Mahavatar Narasimha' is performing brilliantly at the box office. The film has complete
The three-match ODI series between India and the Australian women's team is underway. The team le
There is a strange gender imbalance in American colleges these days, but the change isn't going t
The uproar over the alleged use of the Bengali language 'Bangladeshi' in an alleged letter of the
Actor and Makkal Nidhi Mayyam (MNM) chief Kamal Haasan on Friday started his innings in the Parli